Business news from Ukraine

STATE PROPERTY FUND OF UKRAINE PUTS UP FOR SALE 210 SMALL PRIVATIZATION LOTS

The State Property Fund of Ukraine (SPF) has put up for sale 210 lots of small-scale privatization worth over UAH 113 million, Acting Chairman of the SPF Vitaliy Trubarov said on Facebook. The majority of the companies subject to privatization are situated in Vinnytsia, Poltava, and Lviv regions, while the most expensive lots are in Zaporizhia regions, according to Trubarov’s post. “A potential buyer has 30 to 35 days since the date of the offer for sale to submit documents, make a guarantee deposit, check the facility, its technical and financial reports,” he said.
Some 200 small-scale privatization auctions are scheduled for September. As reported, small-scale privatization involves the sale of state-owned or municipal property, the value of which does not exceed UAH 250 million. The SPF has fully completed including 716 facilities subject to small-scale privatization in 2018 in the ProZorro.Sale base.

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SMALL PRIVATIZATION TO START IN JUNE – PM GROYSMAN

Privatization of small assets that are not of strategic importance for the Ukrainian economy will begin through the ProZorro system in June, Prime Minister of Ukraine Volodymyr Groysman has said. “I believe that privatization is the fund-raising for industry. This month, a new formula for the sale of small enterprises – through ProZorro – starts openly, publicly, without abuse,” the press service of the government quoted Groysman as saying. According to him, large, strategically important assets will be kept in state property, and those where it is possible to raise capital for updating technologies and multiplying jobs will be made ready with the help of well-known world advisers.
“This practice was carried out by countries with a high standard of living. And we, unfortunately, remained with a bunch of problems that now need to be resolved,” Groysman said.
Earlier, First Deputy Minister for Economic Development and Trade Maksym Nefyodov said that the State Property Fund (SPF) of Ukraine had approved a list of more than 600 small-scale privatization facilities that are subject to privatization in 2018. The first auctions can be announced at the end of June.

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